Institute takes a pop at the US standards setter's proposal for fair value accounting
A proposal by the US accounting standards setter to use fair value for all assets will increases complexity and complicate the strategy to converge with international rules, claims the ICAEW.
Dr Nigel Sleigh-Johnson, head of the ICAEW’s Financial Reporting Faculty, said that FASB's strict model for measuring financial instruments will make statements harder to read and information more difficult to understand for investors.
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